Vancouver, British Columbia–(Newsfile Corp. – January 29, 2019) – LOOPShare Ltd. (TSXV: LOOP) (OTC Pink: LPPPF) (the “Company” or “LOOP”) is pleased to provide a comprehensive update on its action plan for 2019 and beyond, as well as recognizing its progress made to date.
2019 Action Plan
- Expansion of existing e-scooter sharing operations.
- Multi-city expansion of the LOOP e-scooter sharing service offering in North America and Globally.
- Integration of the ‘Scoot-E’ brand and partnership with Raytroniks and Ray J.
- Furthering LOOP’s competitive advantage through the technological development of the LOOP platform, including the touchscreen dashboard with Telematics functionality.
2019 will be an exciting year for LOOP’s plans to grow and expand its core e-scooter sharing business. There is significant interest from cities all around the globe in LOOP’s products and services. With the initial fundraising completed in 2018, LOOP has placed orders for e-scooters and is in process of finalizing arrangements for a multi-city roll-out of its e-scooter sharing business.
The previously announced acquisition of the ‘Scoot-E’ brand, and partnership with Raytroniks and Ray J, will provide a catalyst for growth and expansion. The ‘Scoot-E’ brand will allow LOOP to increase its visibility and target multiple layers within the micro-mobility and ridesharing industry. It also integrates Ray-J as a key part of the LOOP executive team, becoming an ambassador to the LOOP brand, and enriching the Company’s go-to-market strategy.
The Raytroniks (Scoot-E) transaction was just the start and there are a number of other strategic initiatives that LOOP is working on that will provide significant catalysts for rapid growth and expansion.
The past two years have witnessed the rise of competition on a global scale in the micro-mobility market. Congruently, come the rise of awareness and public acceptance of micro-mobility as important part of transportation for urbanities. The overall micro-mobility market is in an accelerated growth phase as a result of the increasing awareness. Differentiation is key and the LOOP product achieves this due to superior technology, quality and safety.
LOOP has patented technology that it has integrated into its platform. Each e-scooter includes a wireless ruggedized 7″ touchscreen dashboard with Telematics functionality for electric inner-city vehicles. LOOP’s highly specialized display enables a broad range of services for consumer, tourism or commercial use. This greatly enhances the user experience and provides a competitive advantage to LOOP. LOOP’s e-scooters also offer a higher degree of quality and safety than the offerings of many of its competitors.
What awaits us in 2019? More technology, more cities, more value, and more pieces of the puzzle created then added to complete our picture as a valuable and global provider of the LOOP service based on our own technology. 2019 will be marked as the true accelerated growth year in our business history and the year when many of our e-scooters will be deployed, in several cities around the world, unlocking our value, and making our vision a reality.
- Development of key technology and intellectual property.
- Completion of $3.2 million financing; clean balance sheet.
- Expansion of the management team to include key expertise.
- Evolution of the Zone Operator Model and data collection for existing operations.
The last few weeks of 2018 were pivotal to LOOPShare and its ability to execute on the plans designed to create a global provider of micro-mobility services. The past year was important in terms of technology. LOOP has developed and owns the intellectual property of most of the critical components that constitute the technology necessary to deploy and operate a shared fleet of e-scooters in an efficient manner. The solution includes a unique e-scooter, a feature-rich and validated Telematics-enabled dashboard, and an electric scooter sharing solution including backend and mobile applications (both Android and iOS).
LOOPS successfully attracted a group of investors who appreciated the solid value locked in the company’s vision and ability to execute, then unlocked that value by completing a $3.2 million financing on November 23rd, 2018. Operationally, 2018 demonstrated a solid evolution of our Zone Operator model and generated a wealth of information from our live operation in Beirut and elsewhere. The end result is a realistic understanding of the process necessary to scale operationally and of the functionality and features for an inherently reliable and feasible service offering.
About LOOPShare Ltd.
LOOPShare Ltd., a Vancouver company established in 2009 focused on ridesharing, micro-mobility and sustainable transportation, and its wholly owned subsidiary Saturna Green Systems Inc. have commercialized a first generation, wireless ruggedized 7″ touchscreen dashboard with Telematics functionality for electric inner-city vehicles. LOOPShare’s highly specialized display enables a broad range of services for consumer, tourism or commercial use.